Got a tough question…I’ll try to keep the story short and get all the details in. There are frequently questions here from people who want to know how much profit they can make by gc’ing their own house, and the answers ttypically are either “don’t try it” or “it doesn’t work that way” or similar. Well, my question unfortunately falls into the same general catagory…sort of. Those of you who frequent here know that I’m in the business, not a DIY or HO trying to make a quick buck on a house.
My current remodel client has adequent funds to play with, and he invests in many things. His latest thought is that we would build a spec house together. I would be the gc and he would be the money side. I get a salary (for lack of a better word) and he gets the profit (or loss) when the house sells. There is a hot area of town where we are looking, and the house would be in the $350k range. So my question is…how would you structure the gc’s salary or fee? A flat percentage of the cost? of the selling price? A fixed monthly salary? Hourly rate? And if % is the best choice, how much?
Do it right, or do it twice.
Replies
The deals I have done involve forming an LLC.
The money guy buys the property and makes the mortgage payments for a year while you build it.
The contractor pays for all construction costs.
Depending on the development the two even out, in which case you split the profit 50-50. If they don't even out, then you have a provision that the money advanced by each goes into a "capital account" and you take draws or disbursements out of the capital account pro-rata.
Your "salary" would be a draw against profits.
See a good real estate lawyer who has done this before and has a good form for this. You don't want to pay for the lawyer's education on this. Even if you pay triple of what you think it should be worth, a good lawyer than has done this 2-3 times will spot lots of issues you've never thought of.
Boris
"Sir, I may be drunk, but you're crazy, and I'll be sober tomorrow" -- WC Fields, "Its a Gift" 1934
The money guy buys the property and makes the mortgage payments for a year while you build it.
The contractor pays for all construction costs.
Doesn't make sense... Suppose the land cost $50k and the construction cost $200k...how will it ever even out? Surely the land would never cost as much as the construction.
Do it right, or do it twice.
I can show you several oceanfront lots that would cost a cool half million to get you name on each of them.
I imagine that I could build a decent house for that much.
One family bought a spot for $480K and then the architect told me that the construction budget was only $110K
I turned and left. No sense working for fools.
I have heard that there are several places where the prime lots run a quarter million and the houses on them are about the same..
Excellence is its own reward!
In my little area, there is hardly any land left. New York state owns all the wilderness, will never sell any, and the Adirondack Park Agency controls all the rest, with tight rules about density, subdivision, and building. Waterfront sites are $1M plus, and sites with views, appropriate for vacation homes, are $350K plus. I don't see any building happening on land here at these prices, what little there is, where hard construction costs are less than land costs.
We get lots that sit at seemingly astronomical proces for a couple years and then suddenly, out of the blue, it seems like there is a race to buy them all up. RE goes in cycles like that.
I think it was Jimmy Stewart whjo made the observation, "One thing certain about land, They ain't makin' any more of it".
Excellence is its own reward!
I don't know where the poster lives. Out here in California, land costs often exceed construction costs.
The idea is that whatever the costs of the land vs. cost of construction, each investor's capital account reflects that contribution.
Assume the land cost $100K; and the construction costs $250K; and the house sold for $500K after completion. The land costs are therefore 28.5% of the total. The land partner's capital account would be 28.5% of the total. Got it?Regards,
Boris
"Sir, I may be drunk, but you're crazy, and I'll be sober tomorrow" -- WC Fields, "Its a Gift" 1934
Comrade: I am in the San Antonio area. There is supposed to be a new PGA Village starting development next summer, and we are looking at lots in that area. I say 'supposed to' because the negotiations have been going for a couple of years, however, both the hotel and the golf course developer have signed letters of intent w/in the past 30 days. Depending on location-location-location, for $60 to $100k you can buy a lot from 1/2 to 10 acres in the area. The smaller lots are in developed neighborhoods, the larger ones are unimproved land without city utilities.
Do it right, or do it twice.
Iam curious very few Real Estate Lawyers , can formulate such a contract do you have one i might purchase:)?
Doc, I don't practice law. Sorry. I would feel very uncomfortable sending you a form for you to revise. My suggestion is that you hop in the car, go to the nearest big city and interview some good real estate lawyers, and pop the thousand or two it will take to do this job. You do not want to document this deal yourself. I have a money guy and we have 2-3 homes now on the same basic set of documents, but our issues may be, and probably are, much different than yours.
Regards,
Boris
"Sir, I may be drunk, but you're crazy, and I'll be sober tomorrow" -- WC Fields, "Its a Gift" 1934
I don't know how you would be happy for a "salary".
That usually involves a fixed sum for many multiple hours of work and you get to handle all the headaches. You would want a living wage but also a percentage of the take proportionate to your risk in the project.
I know you get along with these folks but that might get harder once you get into bed with them. Remember that the wife likes to change her mind? That is a profit killer.
Excellence is its own reward!
proportionate to your risk in the project. Would I have any risk? I guess that depends on how the deal is structured. My thought was that I would be hired by him to build a house, he pays all costs, collects the profit at the end, one of the costrs is my fee or salary.
Remember that the wife likes to change her mind? Yep, that's something to be worked out in advance. But I think it won't be a problem, cuz the remodel is her toy, and the spec house would be a investment, so she (hopefully) won't have a free reign.
Do it right, or do it twice.
Risk?
It rains for a year
The jobh depends on you and you break a leg and develope pnuemonia so the owner sues you for nonperformance
The other guy dies while your name is on the bills owed
They get divorced and understandings get confused
While working for a salary, you miss oput on opportumnities to make profit on other jobs.
Price on material goes shy high.
Vandals burn the place down.
the owner sells at a tremendous profit with perfect timing while you still owe several thousand on items and
he runs off to Brazil with a mistress,
leaving you in some distress,
and his wifes hair in a big mess
'till she takes up a gun in duress
and shoots up the house in you absense.
Then the newspaper drops any pretense
of publishing facts in their true sense.
so your rep just ain't worth morth than two cents...
Sure that's all extreme. Only you can analyse what the risks are, butt nothing in life is risk free and a sure shot - word to the wise.
So make your best guess what the risks will be, practice risk management and get rewards for the risks you do assume. The old adage, "The risk takers are the money makers"
Except that too many people let themselves get talked into accepting someone elses risk without the rewards for doing so.
You mentioned in the first post that this guy has plenty of money to "play with" Did he get it the old fashioned way? Or have other people in the past accepted the risk while he accepted the profit?
I know I sound cynical in this. I might take the same offer if the money were OK and if I trusted him. What you are describing tho is a partnership. I don't do partnerships anymore. Too much like a marriage.
Excellence is its own reward!
Now I'm worried...Jeff sounds like me! On the surface it sounds like a good deal, an opportunity to grab onto. That's why I'm asking, looking for the tarnished lining.
Piff...valid points all. Stuff that should be covered by the agreement. How many of those have you experienced?
And when did you start writing rap?
I don't know his past, but he is a successful gastoenteroligist-surgeon, and the lead guy in a 6 or 7 doctor office. I do know that he has a partner in the horse business. Turns out he has two ranches, one for the cattle and mares and ranch-riding horses (where I am working), and one for the 50+ race horses.
Do it right, or do it twice.
My personnal opionion changed drastically when you said he has horses. Horse people are a flighty bunch to put it mildly and I wonder about the common sense of anybody who has so much invested in the horse industry. I say this being raised up in this world and doing work for many a horse owner.
BE WARY
ANDYSZ2I MAY DISAGREE WITH WHAT YOUR SAYING BUT I WILL DEFEND TO THE DEATH YOUR RIGHT TO SAY IT.
---"...I wonder about the common sense of anybody who has so much invested in the horse industry."---
I second that, having been a horse trainer of, between others, race horses (licensed at the track).
Horses are a good tax write off, for people as you describe, as long as you have something to write off.
Interesting proposal. Get a good board certified contract attorney with extensive experience in real estate to prepare and/or look over what your potential partner will bring to the table and cover yourself well, just in case.
May be your chance to soar with the eagles, be sure you have the lift to do so or catch you if things turn sour.
Good luck.
Funny you point out , "horse people ".
I cringe at dealing with preachers. My experience is proof enough for me .
Tim Mooney
I've had good luck and only failed to collect about $600 in my working life. And I never meant to scare the bejeebers out of you, only to point out that therre is indeed risk.
Risk management means in part, writing your agreement to deal with those possibilities, should they crop up. Unexpected death is the closest I have come to having a problem. The client's - not mine, obviously.
LOL maybe not so obviously - they do have "ghost writers" I hear...
so, this guy made his money by being a pain in the gas, eh?.
Excellence is its own reward!
Well, you didn't scare me off, just brought a few details to the table. In a former life I used to deal with commercial property leases, and some of the documents wenrt to 25 legal pages, small print. The idea was to address any and everything that could happen, and try to have an answer already agreed to. Of course some of the clauses were very heavily weighted in the favor of the landlord, since it was their document, but that's why we would attach 5 or 6 pages of addendums and clarifications.
Do it right, or do it twice.
"Unexpected death is the closest I have come to having a problem. The client's - not mine, obviously"
Funny you say that , because most likely you wont know if it happens in the near future because you are presumably in good health. While we are at it , lets not take good health in good faith. Story in short;
I thought I was in good health , but getting old. The last couple of months before the attack I was making great money for a finisher . The GC said I cant believe you are alone finishing 12,000 feet per week. I question the blockage they said I had , but what ever. I went to the woods , cut and split and carried and stacked a cord of fire wood in 100 degree heat in one half day before the attack.
I didnt have a clue I was in bad health and neither did my brother that died of a heart attack. He cut a field of hay the day before and felt pretty good .
Tim Mooney
having nothing in reality to base this on ... as I've never built a house ...
I'd say "Sure, let's do it".
But I'd also know I'm unqualified to judge my risk ... so I wouldn't want a part of the supposed profit. I'd simply take the risk of selling out of it from my end.
I'd agree to GC and build it just as I would any other project.
Come up with what I think is fair compensation ... make a pay schedule I'm comfy with...
and present it as any other bid.
What do I care if the HO's plans are to seel asap and turn a fast buck?
I would ... knowing that some spec's can and are sold in various stages of construction ... have something in that contract that makes sure I still get my going rate no matter who owns the structure at any given time ... or can pull myself out of the deal if the new buyers are complete idiots.
House I'm working in now ... thru lotsa miscommunication ... the HO nearly drove the original builder to bankrupcy thru change order after change order. And this guy was the spec builder/GC/everything.
I'd just wonder "what if" it sells during framing ... and the new owners want a 2 story tudor instead of a 1 floor ranch?
Who pay's ya and how much?
I'd be plenty happy working as a "GC" for a "customer" this first time around.
End profit is dependent on the risk invloved ... I'd be happy with a full schedule with less risk. Even though this dude is gonna "finance" the project ... you still have to "finance" you!
If I had a years salery in the bank ... I may be thinking different and talking about taking the big plunge .... high risk and high reward.
Jeff
Buck Construction Pittsburgh,PA
Artistry in Carpentry
This is happening two lots up from where I am building right now. The price tag on the finished home will be about $900K. Builder and backer are in it on a cash basis, no bank loans. Builder is paying himself and his direct labor crew, and he bought the lot. Backer is paying for materials and subcontractor costs. They will split profits based on simple arithmetic. No LLC was formed. I don't know how they settled on the amount he "pays" himself; maybe it is a draw against profit. My estimate is that there is about $275 in profit in the venture, total.
Sounds to me like a no-lose situation for you, and a great opportunity at that, for you and your crew. You all will be getting weekly paychecks, and the backer takes all the risk. Just make sure your "salary" is set high enough to compensate you for what you will be doing, which is a combination of lead carpenter, and project manager. And because you are bringing something to the table that is worth a lot to the backer, that is, building know-how, make sure your deal includes some sort of bonus based on the profit realized.
I am doing a similar joint venture and have been thinking about this for some time. For the first effort, limit your exposure. Use it to better define the relationship dynamic. This will be an asset in future ventures with the same guy or any new partner.
Figure what you want to earn, how long it will take to build (then add 45 days). Establish a weekly salary based on these and then offer an incentive clause of $X if you deliver the house in less time. He may counter with a penalty if you deliver the house late. The knife cuts both ways. Are you still within your comfort zone?
Do not confuse the issue by focusing on the profit the Client will be making. He is taking the risk. Focus on YOUR profit. You should just get paid (well) for your efforts. Any bonus should be based on a fixed number and not the Client's variable profit % which can be manipulated and is out of your sphere of influence. Example: You have no control what the selling price is, nor the timing, nor the buyer.
As the GC/ Project Manager you have an established job discription and responsibilities. As a partner you have an ambiguous job discription and will feel the brunt of every poor decission, cost overrun, and miscalculation. He will gleefuly accept kudos for everything that goes right. I have found that when people are in a relationship with someone who is more knowledgable they have an inclination to overblow the authority's errors (we all make them - even surgeons, I mean Einsteins) so as to even the playing field.
You're right, I don't know this guy (who may very well be a swell guy) but it's better to go into the venture with your eyes wide open and be surprised when things go well.
Montra: Get in. Get paid. Get out.
F
I know a man who I worked for as an employee that became a developer by supplying the labor on a project. This was for a 20 house build, his profit was 1 house, and 1/3 of all profits, his wages were 0. He served as G.C. and subbed out everything, much of which included hiring capable people for wages instead of subbing out to different contractors. If you know capable people this may be a way to keep costs down. At the time I was happy with the wage I earned from this project, and the experience it brought me, but I know I made a lot of money for the employer and investors, so a win win situation. The investors paid for everything, so no out of pocket construction costs for GC
You also have to ask why you should get the job from this investor if you are just going to give him a bid price. why should he hire you and not the guy down the street, and just keep all the profit for himself? To profit from a situation like this I would think you would have to invest something, what can you bring to the party? If you will supply labor and expertise at a minimum and wait to be compensated until a profit is finally realized, then you have invested and risked and deserve to be rewarded. Just be prepared to have worked for nothing, or very little when you could have been making normal wages. Take steps to structure an agreement that protects and is fair.
why should he hire you and not the guy down the street, Good point. The answer is based on something that gets discussed here frequently...reputation, good working relationship, etc. He knows me, knows the quality of my work, my work ethics, etc. If you were the customer looking for a contractor, who would you want to hire? A complete stranger? A refferral from a friend? Or someone who has done a good job for you in the past.
I may end up working for nothing, which is ok as long as that means that all my costs are covered and I break even. No that's not the goal, but sometimes you take a job to build for the future.
Do it right, or do it twice.
Remember that this will tie you up for a longer period of time than your normal remodels. The referrals you will get from previous work may not be able to wait until you are finished with this. It is a chance to fill your plate now at the expense of cultivating potentially more lead producing work in the future. However, if this is the direction you are thinking of taking your business, best of luck.Remodeling Contractor just outside the Glass City.
Quittin' Time
i kind of assumed that he liked you and your work, which is why he made the offer to you on the build of a spec home, but what i was trying to get you to think about is why should he give you more than going rate for a good GC on this job if it is to be paid like any other job. You have just run into this incredibly nice guy who will hire you as GC and then split his profits with you after he sells his spec house. That sounds to good to be true, on the other hand why dont you just borrow the money for the build and keep all of the profit for yourself. If this first project is successful that may be exactly what you do for your next job.
My point was that you should share some of the risk. That your investment should be labor and expertise. If it was me in his position I would hire the guy who could build it and wait for his money till I got mine and take a percentage for his investment. I would not care if he was a stranger or my brother in law if the money was right and he was competent. Money is usually the bottom line for most people, no matter how much they like you if someone else will do it for substantially less someone else will get the work, at least one time anyway.
Now if I was you I would keep my eyes open for a lot in a nice area that you could get the owner to carry the paper on. Then after you've made the payments for awhile you apply for a construction loan and submit the plan for permits. Be as efficient as possible in the build, with time and costs. Don't get me wrong, I highly encourage giving it a try, you might make a lot, you might not make much, you will definitely learn and expand your horizons!
" Money is usually the bottom line for most people, no matter how much they like you"
What you are saying if I can paraphrase it, is to remember the Golden Rule, 'He who has the Gold, Rules.'.
Excellence is its own reward!
I agree with Frankie, above. Your partner has tons of money, you said that you work for him now. I recommend that you set a fair salary for yourself and your crew and let him take all of the risk.
Then, if things work out well, your partner may choose to do another spec house. Based on your experience with this one you can then negotiate for some reduction of your salary and ballance that risk with some portion of the profits.
It sounds like your partner can afford to lose a lot more than you can, so that's why I advise that you take as little risk as possible, and focus on a dependable salary.
risk vs. benefit, the great gamble that we all face every day of our lives. When going into business with someone with way more resources than me I choose to be real conservative.
If this one works out well, and he makes a bundle, then you can negotiate for a slice of that pie when next time comes around.
hope this helps,
Norm
Norm I have to ask you something, and I hope you will respond. I think trhis is the second time you have responded to one of my posts (the other was several months ago) and both times you have called me Frankie. That's not my name, not even close, so I wonder why you use it? Absolutely no offense taken, you can call me anything you like, but I'm curious...
Do it right, or do it twice.
Frank...
stop pretending that's not U!
JeffBuck Construction Pittsburgh,PA
Artistry in Carpentry
Be sure that what you expect and understand is what the "money man" expects and understands. Your "salary", the frequency of payment, the time spent on site, wether or not you can do small side jobs if time and schedule allow. etc.
Keep thinking worst case scenario. How can this guy mess you over. Rest assured he is thinking how you can mess him over. Hence the attorneys.
Trust is great, but my cousin went into a deal to build a 3/4 million dollar house expecting regular draws for himself only to find out that "no, no, no, you don't get paid until we sell". It has been ready for move in for two years now.
Bottom line: DON"T ASSUME ANYTHING. GET EVERYTHING IN WRITING.
Bill
sorry about that, I was responding to someone earlier who called themselves Frankie. Prospero puts our answers at the bottom, even when we are replying to someone else, earlier in the thread.
Norm
" but sometimes you take a job to build for the future."
That is the crux of the matter right there in your own words.
If you have a vision of what you want to do and where you want to go with your career,
And this opportunity happens to be a step in the right direction,
Then it is right
If not,
It could be a distraction or diversion away from sucess
or if yuou have no goals and are just bouncing from one thing to another,
Then this is just as good as another..
Excellence is its own reward!
If you have a vision of what you want to do and where you want to go with your career, And this opportunity happens to be a step in the right direction, Then it is right
As I see the situation now, I can continue to do small jobs, repairts, upgrades, etc, which are certainly paying the bills. Or I can take a step forward and go to the next level. If I don't try it, I'm sure I will always wonder "what if...". I may find that new construction of this type doesn't suit me, but I won't know if I don't experience it.
Do it right, or do it twice.
I have thought about your deal and the bonus arrangement I proposed in an earler post, and want to reverse my position.
Your bonus/incentive should not be tied in any way to the guy's profit or loss. It should relate strictly to time or cost or both. Your performance only relates to these, and not to the realized price or the market.
How much participation will you have in the preparation of plans and specs? In soliciting and awarding sub packages for things like sitework, foundation, mechanicals? Subcontractor qualification?
How about this? With your contacts, knowhow, and reputation, will you bring to the table certain suppliers or subs that are cost-effective, reliable, and of high quality?
All of these things can come into play in your negotiation for price and incentive.
How much participation will you have in the preparation of plans and specs? Based on my knowledge of the "investor" (my current client), I envision that he will be a silent investor, and will make occassional site visits, phone calls, etc, but really not be involved except for the funding.
Do it right, or do it twice.
Ok, so you are going to work on this projcet to the exclusion of other work, and thus, only make the "paid" salary. That could be a pay cut in some ways. The loss of autonomy has some sort of cash value, too--it's just hard to calculate.
This looks like a prime oppertunity for a cost-plus limited liability partnership. The limited liability partnership will require the services of a competent attorney, and those costs should be split equally. The "cost plus" part of the relationship would be in that any profits get split between the two partners, over operating expenses in proportion to the risk. This applies to disconts, and the like as well. Say you get a great deal on OSB versus the estimate. The discount is then applied to the "bank" of funds following what ever split you work out, like 65/35 or whatever.
The mechanisim for pay out is another feature where attorney services will pay for themselves. Like having a "neutral" book keeper handle the funds (and fill out G702s, or the like).
Having remodeled and empty lot or two, it can get to be a pain to pay for things out of a nice fat construction account, only to have wind up only paying "yourself" a pittance due to a poorly considered 80/20 split. Or, having the money guy do something flighty with the cash, and you have no (easy-read defined) legal recourse, after you sink your own cash in the project.
Nothing wrong with the idea--you just need to have a plan. Not just a plan for if something goes wrong, buit, more importantly, if everything goes right. Consider a plan for success. What to do if the money guy starts taking on additional investors in "your" work. (This can be bad, his financial risk goes down, your goes up, but you can get "outvoted" by all of the new money people.)
This seems like an ideal situation for you to get your usual pay for building plus a possible percentage of the profit. Unless you have money to spare, money you can afford to lose, I wouldn't go in as an investor. Doing that puts you at financial risk and also complicates the definition of the relationship quite a bit. Get your client in as the 100% money man--he buys the land, he pays you and your crew hourly, he pays the permits, designer, engineer, materials, and subs. He pays you for overhead at a predetermined percentage so things like truck, tools, office are covered. At the end, he gets all of the profit up to a certain threshold and if there's more than that (i.e. you have done a good job controlling costs and delivering the project) you get a split of it. He has all of the downside (since he can afford it) and most of the upside (since guys that can afford the downside also get the upside). You have none of the downside and a bit of upside based on both your performance and general market and sale conditions. If the project is budgeted very carefully in advance and the approximate sale price can be predicted, this should be fairly simple to set up and execute. The key is a solid, realistic budget with everything covered, and a good understanding of the local market and what the project will sell for. One key ingredient is a very good local realtor who can advise you competently so you don't build something that sits on the market and then sells for less than hoped. Personally, I'm looking for such a person in my local market so I can get some sort of spec thing in the works. I think they're the most import ingredient.
If the project owner starts to get shaky for any reason, you are relatively isolated. A lot could happen: the project owner chooses a lousy design or a lousy lot, hires a lousy realtor, gets bored halfway through and stops the job, sells it to his daughter for $1, whatever. You wish he wouldn't do that but you're getting a check every Friday for the week's work. Don't write any checks for the project yourself, and don't use your own accounts for anything. The subs work for the owner. Unless you've got big city lawyers to match the owner, and you want to pay them to cook up a LLC, that's the only way I'd do it. I guess I'm risk-averse and like clean, simple deals.
" I would be the gc and he would be the money side. I get a salary (for lack of a better word) and he gets the profit (or loss) when the house sells. "
I just got here with a total of 29 mess. This is not a partnership. This is a business relationship.
Tim Mooney
Here how we do it. 20% GC fee, 50% draw up front 25% at the mid way point and the final 25% at the end of construction. When I say at the end of construction, that's just what I mean, don't be talked into waiting for the house to sell . Your job is the build the house not to sell it, and if their is a loss at the sale their is a chance you might not get your final draw.
Now the 20%, the way we base 20% is on the selling price, now you might say we don't know the selling price till the house is sold. This is were you two decide on what would be the lowest accepting dollar before the house is ever started, why, because if you wait to see what the house finally sells for , the investor might take a loss to sell and get away from it and you both lose money . Like I said earlier, your job is to get the house built , not to sell it. Hope this helps you out.
Just a foot note: most of the stuff we do are year long or better projects.
Edited 11/23/2003 8:15:24 PM ET by byoung
Edited 11/23/2003 8:17:51 PM ET by byoung
I seem to recall $350K as the sell price estimate. A 20% fee makes your package $70K, and housebuilding can probably be done, groundbreaking to punchout, in six months or less. I'll bet your silent backer backs away from the 20% number. If you can, find out what the builders in your area are paying lead carpenters and project managers. If they are making $140K annually, the advice about the 20% is spot on; otherwise, use your findings re compensation and discuss it with your investor.
Basic economics: Risk = rewards.
Higher risk = greater rewards or you're in trouble (or lucky). I've been both. Where do you fit in? No one goes into a deal thinking it won't work and someone out to screw you or shift the risk to you won't be a mean SOB intially, that comes later.
The fact you ask the question is a good start, but with the risk, I wouldn't settle for a "salary", but draw against profit. You need to determine costs, profits and % before you begin (not an easy job). Remember, money is a commodity and generally readily available for good projects.
God luck, Bob
This discussion has resulted in much more feedback thatn I had imagined, and I thank you all. All of it has been usefull, and much has been what I wanted to hear :) Even the comments that I didn't want to hear are certainly valuable.
I used the word "salary" because that means a regular paycheck regardless of hours worked. In this case, I envision reaching an agreement with the investor that the amount paid to me would be a fixed amount on a regular schedule, regardless of what the house sells for or how long it takes, based on the anticipated selling price. After reading the feedback, I would also try for an incentive clause if the construction cost is lower and/or the selling price is higher. Obviously there are a lot of "what-ifs" to be considered.
Do it right, or do it twice.
going with the term "salery" ...
Just what's so bad about being tied up to one big job?
Everyone's saying it'll keep him outta the loop ....
so if someone else comes knocking and asks him to build them a house .... like a regular old customer .... here's the fixed bid .... this is what it'll cost ...
He should say No because it'll tie him up for too long?
I kinda though that's what we were here for ....to fill as much of our time thru the year by actually working and building!
Oh ... that's be terrible ... losing all the open free time 'cause yer booked solid 5 days a week ... 8 hrs a day .... for 6 to 9 months!
Oh the horror .....
Having to tell other people Sorry, I can't get to you till winter ...
Oh the shame .....
JeffBuck Construction Pittsburgh,PA
Artistry in Carpentry